1916-11-09 — Page 2

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THE HONGKONG DAILY PRESS, THURSDAY, NOVEMBER 9TH, 1916.

String Quartet. Coldstream Guards Band. Concert Orchestra. Dixon. Green-Macdonough. Victor Light Opera Co. Conway's Band. Military Band. McCormack. Homlin, Elman Tetrazzini

MOUTRIE'S

VICTOR AGENTS.

WHY SHOULD ONE DRINK

No. 10

WHISKY?

BECAUSE

"ONE OUGHT.”

DISTILLED BY JAS. WATSON & Co., Læv.,

DUNDEE.

SOLE AGENTS IN SOUTH CHINA:

Telephone 636.

(90-4

DONNELLY & WHYTE.

HONGKONG AND CANTON,

(1908

CAPITAL AFTER THE WAR.

WHAT LONDON STOCKBROKERS.

THINK.

A subject of great importance is the probable conflition of the money market after the war. This is discussed daily by members of the London Stack Ex- change Committer, and a Stock Exchange correspondent has contributed so he Economist the following review of the opinions which prevail in that financial sauctuary'

THE GUARDS TRIUMPH. HOW THEY FOUGHT AND WON

AT FLERS,

[BY W BEACH THOMAS,]

the gallant men who have fought and When we hear or fead the names f died we should have some picture in our mind of what they faced and en dured for home and country yes, for file good of the world.".

Among others who earned equal famo The articles that have been appearing

the Guards have gone into action, have in The Eranomist, he writes, on the new fame; and many names known subject of the supply of capital after the through the length and breadth of the war have re-aroused in the Stock Band will be found in the roll of honour. change the burning questions as to what Smething of the spirit of that fight is likely to happen on the conclusion should reach those who read the names. It was worth living, even if I am peace Views dimetrically posite Killer, to worrow, just to have seca such from each other are being expressed

burgo," said une The subject is threshed out continually leer, whose speech to his men after commanding by members of the culpmittee at their action will be remembered all their lives, informal meetings over lunch, and talase syllable by syllable, by all who

A SPEECH OF 45 DAYS.

COUNSEL'S QUARREL IN COURT.

ABOOT A LIAR, AND A

SCOUNDREL"

The conclusion of the hearing in the Chancery Division; before Mr. Justice Eve, in the case of the Amalgamated Properties of Rhodesia (1913) (Limited

The Globe and Phoenix Gold Mining Company (Limited) was the occasion of a scene between the leading counsel en- gaged in the case.

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Mr. Upjohn, K.C., goncluded his speech for the defendants, having addressed the Court for 45 days, the hearing occupied 144 days in all. He said he was not sure whether he ought not to apologize to his lordship for the length of time he had occupied, but he felt that he could not blame himself. He had over 50,00 ques- tions and answers to go through, 5,00 pages of printed evidence, and 256 ex- hibits.

In reading, noting, and syn-OFFICES in HOTEL MANSIONS --Four large rooms (communicating) facing Blake thesizing the case for the purpose of re-echoes from the Congof market to the heard it. Nor in war at any time is Placing it before the Court he had occu-Pier and the General Post Office. Nos, 9, 10, other, end of the Hons. The point is any stone more moving than when, thepied 34 days, not to speak of the work11 and 12 on the Third Floor of Hotel.

particularly german, in that stock brokers are being asked daily by their battle over, a regiment lines up under some shelter in the misty dawn to take clients for suggestions in the way of toll of the missing. However gaily men investments that shall benefit from the fight, as that moment they ave not war. conclusion of peace b

While there is noticeable activity of which ever I heard news or any And the Guards fought the gayest fight many of the shares of industrial controubadour, dreunied, and fought it panies doing well out of the war, the against bitter odds, the odds of an open eneral sentiment seerns to be that flack and won, inflicting more than Luy such shares is skating on rathor

they suffered, thin ice and that a purchaser at to-day's

For the first time in history three high prices will be well advised to watch battalions of the Coldstream Guards a favourable opportunity for realising before the war is at an end. This do went over in life. They were swept and mand for post-war investments is felt raked by rifle and machine-gun fire from particularly in the Consol market, and many directions, and all the while the undoubtedly has an influence upon the the blast in their front and flank was shells fell right and left. For 200 yards applications for Exchequer bouds. As enough to have stopped a locomotive. it is a man comes to his broker nowadays I did not stop the men. In the midst and says flint he wants to put money into some stock that is not liable of this blast, of a sudden they came upon repaid in five years time, when the trench from which ranks of enemy value of money may be considerably lease. The sight was all they needed to then it is now, and when he might have add the last touch to their fighting difficulty in replacing, with equally good

spirit. security, the Exchequer bonds that will be redeemed in 1019, 1920, or 1821,

A BELVISH ARGUMENT. --"

@BATTLE BECOMES, A CRASE.

„The enemy fired rifles and throw bombs. The Guards used only. the bayonet. Each mar, they said, got his man. The enemy fought now in the open as well as below ground, and the sight of these new regiments, body to budy, hand to hand, stabbing, hitting, even wrestling, so stirred the Irishmen coming up in support that they rushed forward at the double to take their parti N.C.Os, subalterns, commanding officers, doctors, netillery observers, burst into an incredible shout, smothered by the noise of the guns, but like the wish of the shells savagely inspiriting

Men,

There is an element of selfishness in this argument, of course, and the broker, it may be assumed, as a rule, counsels his client to put inif his available capital into the Exchequer bonus, and to utilise only the other half in the pur chase of the longer-dated or the irre- deemable stocks. Opinion is widely spread that the Government's idea in not issuing a popular loan at the present time, and in continuing to finance the war with the aid of floaters, is to save interest in years to come, the Treasury The enemy had fought well. · He action being interpreted as a clear in thought he could stop the Guards, but ference that before very long the country the bayonet was irresistible and of a will be able to borrow on 3 or 4 per sudden the desperation of the struggle cent. terus instead of the per cunt broke. We flushed 'em and they rose which would certainly have to be offered like a covey of partridges." The battle now it a popular long-dated loan we became a chase. The prisoners who sur to be issued. We rendered were just given leave to The view that there may be a strong hurry back without escort to our lines, revival in trade for a few months after and took the permission the gallop, the conclusion of peace is generally en- to be rounded up like homing sheep, dorsed, but how long that revival will away behind. One group sent astray. last is a point over which there is a beaded off in its nervousness by other variety of

sharp controversy. Some men and advancing troops, before it was again amongst them ahrewd and successful corralled off like any other half-wild members of the House, contend that the animal. The fight and the chase went revival will take the shape of a boom, on, morning, day and evening. Germans which will last for several years, at any rose from mysterious holes and picked rate, but others hold that the spurt in off isolated men. One Guardsmen had trade will

and a duel at sixty yards with a Bavarian Love transitory

sniper. Each fired three shuts The temporary

Goardsman's last went home and the German fell.

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Un-

done by the other counsel for the defen-

dants, B

self and the counsel for the plaintiffs, Mr. Referring to the friction between him- Upjohn said that nothing he was about what he had sain about the other side. to say must be taken as a withdrawal of He was surprised at his own moderation. But he felt that he must apologize to his lordship for being upon one occasion. betrayed into using expressions which

t were not consistent with the respect due a Judge as representative of the Sovereign and charged with the duty of But he was not administering justice. 59ing to offer any apology to the other side.

Mr. Hughes, KC., said that his learn! necessary for him to say something. Mr. ed, friend's last observation rendered it Upjohn had apologized to the Court, but he had not apologized for his abominable. insults to Bir. Gore-Browne. never quarrelled with any member of my profession before in all the course of iny experience Mr. Upjohn has mado an attack upon Mr Gore-Browne,

1. have

Mr. Upjohn. Perfectly untrue. Mr. Hughes-He has also extended his insulting conduct to me. He has called I me a fool, a liar, and a scoundrel. should have brought the matter before the term time. I hope the Press will tako Benchors of Lincoln's Inn if it had been this opportunity of saying that such con- duct as this is entirely unknown at the English Bar.

Mr. Justice Eve said that he was sorry that otherwise pleasant reminiscences of a pleasant case should be marred by such regrettable incidents. So far as any dis- respect to himself was concerned, that was entirely removed by Mr. Upjohn's remarks. He was not entitled to adjudi- cate between the three professional gentle men involved, all of whom were his per sonal friends. express his great regret that the last day of the case had not been used to settle if he allowed ono matter to be overalind. the matter. But injustice would be done owed by one distressful incident. He meant the matter of Mr. Upjohn's great speech. It was bound to provoke a great deal of criticism because of its length. But having listened to every word of that speech, he was well qualified to offer an opinion upon it, and he wished to express his appreciation of it as an example of unwearying industry and as a great heip in the determination of the many diffi cult problems in the case. His judgment would take some time, but he would deliver it as soon as possible.

The Court then adjourned,

All he could do was to

REMITTANCES FOR BRITISH

PRISONERS.

NO "DEDUCTIONS BY GERMANY,

They point to the precedents of recent

All this while, whether advancing or years, such as were set by the South stopping in shell holes or trenches, African and the Busso-Japanese war to officers greeted one another as if they. support their contention that if the after were meeting in Piccadily, with familiar math of those two wars turned out to greetings and Christian names and the be long and dreary days of depression, common chaff of the regiments. the conclusion of the present struggle imaginable events made litt difference. The Secretary of State for Foreign greatest of its kind on record-cano A young subaltern, in battle for the Affairs is informed by the United States fall to underline the past experience, and first time, was transferred of a sudden Embassy that remittances by money-crder to render more probable than notinte & maze of glory, conscious that to British prisoners of war in Germany period of some years of dullness in trade he was dead, that was all Presently will now be paid in full, and that the industry of all kinds, and finance. he found himself at the bottom of a sums previously deducted by the Germen la regard to this latter proposition, it shell hole quite unhurt, when he con military authorities will be credited to may be pointed out that times of deprestinued his mission of search for a the payees. sion in trade are not necessarily accom machine-gan officer. He met one at last panied by want of business, or weakness and asked him his name, de asked in Stock Exchange markets. In point of once, twice, three times without eliciting did not stop till he had delivered it per- fact the opposite has been, and soy an answer. At last the man put his sonally to the headquarters of bis unit, again be, the case. After this war, how month to his ear, made a funnel with While officers greeted one another with ever, the crying need will be for money his hands, and bellowed ins loudest. the natural exchange of social phrase, the Governments, municipalities, railways, Then first the subaltern understood that men called out hilarious encouragement: building, every sort of borrower will the shell which had opened the earth Go it. Lillywhites," Go it, Ribs," flock to the money markets for fresh beneath him had left him stone deaf, using the vocatives of the playing field. capital, and the competition for money But the deafness, too, passed. He fought But all day and night it was bitter fight- may easily have the effect of keeping all day, and spent the night at patroling, as every man and every officer knew. up the rates of interest until demand is work making posts in front of the line. satisfied or trade falls away. The whole GERMAN GUNS GALLOP OFF, subject affords such scope for speculation, and offers such a variety of answers to the various questions arising out of it, that it requires the exercise of long ex- perience and sound sagacity to foresee what is likely to happen, Those best qualified to judge will probably be least disposed to commit themselves to didactic conclusions when there is so much in the situation making for uncertainty and surprises

THE WAR LOSSES.

ORDER REIGNED THROUGH ALL, CON The enemy ran, but it was not allowed

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Soine golden moments were vouchsafed to pursue them. I heard an officer apolo in the immortal charge, which carried the gize, almost with tears, for the necessity Guards over a mile and more of shell- of forbidding too long pursuit. Trenches raked and bullet-raked desert. While occupied were often shallow and very full.1, MINDEN 11a, w they drove the Germans before them the--full of Germans, some gibbering, some sum, below the horizon when they started, obsequious, some wounded and crying for had reached high goon. It lit a new food or water, some quite quiet; full, too, landscape. A German battery was seen of fighters, some hale, some dead, sente Terrace and Salisbury Aretine. Kowloon. in action, the cfficers taking notes and the wounded. The padre was all day in the gunners shovelling shells into the breech where he could; and at night helping to

front

line giving religious consolation

Apply to: Enemy's transport trailed along the ronda Undamaged steeples rose from the bury the dead. Stretcher-bearers tried to midst of peaceful villages But soon the plush up, and when unable went into the panbrams shifted like the baseless open without fuss or hurry Shells. fell fabric of a vision." The German guns

all the while big abelle and some mysteri- limbered up and galloped off. The trans ous shells smaller than the three-inch. port vanished, and just a little while Wounded men were taken into the small homesteads merged into the general and padres found hiding Germans and later the village houses toppled and the but deep dugouts that the enemy had dug in this loamy sail. On some both doctors Dead Wanded Frisco Tola desolation of war. 1,200 2,800 2,000 5,700 Some figures emerge from the ruck of sent them hustling off to the rear.

800: 1,900 150 2,050 battle in almost ghostly silence. An offi

Through it all order reigned, companies 850 3,500 325 2.675 cer who felt then and afterwards that he were mixed together, and one bit of 476 1,000 900 $375 had never lived so splendid, so exhilar trench might be crammed while another 70 680 sting a day in his life such men do really was neglected. In spite of all this

·200 75 350 exist took no cover, but weat exultingly with compasses and surveying tools quiet- crumples were ampothed out. Officers

The fighting nations have during the first two years of the war had the follow cial American statistics: ing losses ('000 omitted) according to offi-

Russia Germany... France...

Austria-Hun Great Britain

Turkey Serbia Italy Belgium

160

450

60 125 75 200 forward to say nucleus of resistance hely took bearings, and orderlies were sent

100

2.

30

70

50

Balgaris

་ ་ ན་

100 could discover. He killed man after mati, back with precise messages. Our artil 180 Some with the pistol, some with a stick.

25 One of his men, sa great an athlete, if ery battered a counter-attack and sent less endowed with Valkyrie spirit, reshed vanished like steam from an engine. German battalion scattering till it machine gun

3,680 13,353

2,900 3,870 hayoneted that tro of the men, Patrols went forward Good digging

third, and caught the During the last two years the cost of fourth a clip with my stoms rival was done. Water and food were brought the war for all the fighting nations is very of another company then claimed the cap up and here and there astonishing-sup- nearly £10,000,000,000 in direct expenses tire machine gun but the IrGaman pics of gode water, bread, and coffee and 281 warships have been destroyed settled the dispute by taking the weighty beans collected in German, dugouts To calculate how much the war conf the civil population and

Numerous prisoners were collected in thing under his arm and carrying it and safely despatched. The dif- the national economy of the nations is, of course be deliberately across the open are foult position was made. Erm, a prest

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